27.11.2015 - Technical view

Currencies trading and euro. The price of EUR/USD continues to move along the upper boundary of the descending channel and currently is consolidating above the level of 1.0600. After overcoming of this support, quotes will continue to decline to the nearest target levels around 1.0500, after which downward trend may continue to 1.0200 and 1.0000. Growth of price in the near future is limited by the resistance level at 1.0800. We recommend holding short positions and maintain the medium-term negative outlook.

Nearest resistance levels: 1.0700, 1.0800, 1.0900, 1.1000, 1.1100, 1.1200, 1.1350, 1.1450

Nearest support levels: 1.0550, 1.0500, 1.0450, 1.0200, 1.0000, 0.9600

Currencies trading and British pound. The price of GBP/USD stabilized above the support level at 1.5050 and is consolidated above this mark. In case of correction, quotes will rise to 1,5200-1,5250. In case of continued negative dynamics, quotations will continue to decline to 1.5000, 1.4900 and 1.4800. Our medium-term outlook remains negative.

Nearest resistance levels: 1.5200, 1.5250, 1.5300, 1.5500, 1.5675, 1.5700, 1.5800, 1.5900

Nearest support levels: 1.5000, 1.4800, 1.4700

Currencies trading and Japanese yen. The price of USD/JPY continued to fall within the local descending channel and currently is consolidated above the level of 122.50. Overcoming this level will lead to a further reduction of quotations to 121.50 and 120.50. We expect the resumption of upward price movement and after overcoming the resistance at 123.50, the price will continue to rise to 124.50 and 125.40.

Nearest resistance levels: 124.50, 125.00, 125.70, 128.00, 130.00

Nearest support levels: 122.50, 121.50, 120.50, 119.00, 118.50, 118.00, 117.00

Currencies trading and Australian dollar. The price of AUD/USD started to correct after reaching the upper limit of the local downward channel and in case of breaking through the support at 0.7200, will continue to decrease to the lower boundary of the channel. A further increase in price is possible up to 0.7300 and 0.7400. Our medium-term outlook remains negative and we are waiting for the signal for the opening short positions.

Nearest resistance levels: 0.7300, 0.7400, 0.7500, 0.7600, 0.7700, 0.7800

Nearest support levels: 0.7200, 0.7150, 0.7080, 0.7000, 0.6900, 0.6750, 0.6600, 0.6500

Currencies trading and New Zealand dollar. The price of NZD/USD after approaching the important level of 0.6600 corrected downward and now is consolidated within a narrow range. In case of further decline, quotes will reach the level of 0.6500 and 0.6450. The breaking of the upper boundary of the channel and resistance at 0.6600 will lead to the continuation of the upward price movement to 0.6700 and 0.6800. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 0.6600.

Nearest resistance levels: 0.6600, 0.6700, 0.6800, 0.6900, 0.7000, 0.7200

Nearest support levels: 0.6500, 0.6450, 0.6400, 0.6320, 0.6250, 0.6200

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